Part 5Debt management and relief

Chapter 4Debt management schemes

Termination of approval

125Procedure for termination

1

Regulations may specify a procedure for terminating the approval of a debt management scheme.

2

Regulations under this section may, in particular, specify a procedure that requires any or all of the following—

a

notice of, or the reasons for, an intended termination to be given (whether to the supervising authority, the scheme operator, the Lord Chancellor or any other person);

b

conditions to be met before a termination takes effect;

c

a particular period of time to elapse before a termination takes effect.